Castleark Management LLC Makes New Investment in Openlane $OPLN

Castleark Management LLC bought a new position in shares of Openlane (NYSE:OPLN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 217,210 shares of the company’s stock, valued at approximately $8,958,000.

A number of other hedge funds have also modified their holdings of OPLN. Allworth Financial LP purchased a new position in shares of Openlane in the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in Openlane during the 4th quarter valued at about $39,000. Fifth Third Bancorp acquired a new stake in Openlane in the 4th quarter valued at about $40,000. Versant Capital Management Inc raised its holdings in Openlane by 94.2% in the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after acquiring an additional 475 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in Openlane in the 4th quarter worth approximately $42,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird set a $40.00 target price on Openlane in a report on Wednesday, May 6th. Barclays lifted their price objective on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Bank of America boosted their price objective on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Openlane in a research note on Thursday, June 11th. Finally, Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Openlane Trading Up 0.9%

Shares of Openlane stock opened at $34.36 on Wednesday. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -40.43, a PEG ratio of 2.09 and a beta of 1.28. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day moving average of $38.58 and a 200 day moving average of $34.04.

Openlane (NYSE:OPLN) last posted its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The company had revenue of $554.60 million for the quarter. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, research analysts predict that Openlane will post 1.45 earnings per share for the current year.

About Openlane

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.